answer all parts of the wuestion and explain answers:

2. Building an Income Statement. Lifeline, Inc., has sales of $585,000, costs of $273,000, depreciation expense of $71,000, interest expenses of $38,000, and an average tax rate of 35 percent. Please build an income statement based on the above information and ask the following questions: (a) what is the net income for this firm? (b) Suppose the firm paid out $36,000 in cash dividends, what is the addition to retained earnings? (c) Suppose the firm had 42,000 shares of common stock, what is the firm's Earnings per Share (EPS)? What is its Dividends per Share?

2. Building an Income Statement. Lifeline, Inc., has sales of $585,000, costs of $273,000, depreciation expense of $71,000, interest expenses of $38,000, and an average tax rate of 35 percent. Please build an income statement based on the above information and ask the following questions: (a) what is the net income for this firm? (b) Suppose the firm paid out $36,000 in cash dividends, what is the addition to retained earnings? (c) Suppose the firm had 42.000 shares of common stock, what is the firm's Earnings per Share (EPS)? What is its Dividends per Share